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I <br />I <br />I <br />I <br />I <br /> <br /> I <br /> <br /> I <br /> I <br />I <br /> <br />I <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />February 1, 1995 <br /> <br />TO: <br /> <br />FROM: <br /> <br />SUBJECT: <br /> <br />Mayor and Councilmembers <br />Ryan Schroeder, City Administrator <br />Glyn Huff, Building Official <br />Steve Lutmer, Building Inspector <br />Sylvia Fmlik, Zoning Administrator <br />Jessie Hart, Finance Officer ~-,D~ <br />James Gromberg, Economic Development Coordinat <br /> <br />Building Activity for January 1995 <br /> <br />Attached for your review are the building permit reports for the month of January, 1995. As the <br />reports show, the City issued four new home permits which compares to the six projected during <br />this period in th~ residential activity forecast. This slower than expected growth could be caused <br />by the uncertaifity of the Federal Reserve (Feds) actions with relation to the possible increase in <br />home mortgage i'ates or that the Feds previous actions have had the desired effect and substantially <br />reduced the gro(vth in the new home market. <br /> <br />This rate of construction puts the City on a path to construct a total of 177 new homes in 1995, <br />which will result in a population increase of 602 people, bringing the total population to 16,726. If <br />this slower then expected trend continues, the City will see the building department revenues <br />greatly reduced as compared to previous years. This should be offset by the projected construction <br />of a greater amoiJnt of commercial/industrial square footage than in prior years. <br /> <br />If you have any questions concerning these reports, please contact me. <br /> <br /> <br />